In a joint statement on Friday, the companies said the settlement does not include a cross license to their respective patents.

Good news.

"Apple and Google have also agreed to work together in some areas of patent reform," the statement said.

Bad news. Two of the largest technology companies in the world working on "patent reform"? Translated to Standard English, that reads: "working together to strengthen the position of large, established companies to make it even harder for newcomers to challenge us".